Median growth superannuation funds returned 8.5% for the first nine months of the financial year and are heading for an eighth year in a row of positive returns.
In the March quarter, the median growth fund, holding 61% to 80% in growth assets, was up 2.5%.
The previous two quarters were also positive, at 3.1% for the three months to September and 2.5% for December.
The March quarter return was driven mainly by strong share markets. Australian shares were up 4.7% while international shares gained 5.4%, a number dragged down by a stronger Australian dollar.
This chart from industry analysts Chant West compares performance since July 1992, the start of compulsory superannuation, against inflation.
“Growth funds have performed better than expected this financial year,” says Warren Chant of Chant West.
“With only the June quarter remaining, there’s a very good chance that they’ll deliver an eighth consecutive positive financial year return.”